ING Economic and Financial Analysis 5.68K Followers

Summary

Barring a Brazilian-style election surprise, the Fed should leave rates unchanged.

It seems the US 10yr is waiting to tick this off before it deviates too much from 5%.

Meanwhile, the UK 10yr yield should ease lower after the UK autumn budget, as the tail risk of spending surprises gets priced out (we estimate a political risk premium of c.20bp in the 10yr).

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By Michiel Tukker, Senior UK & Eurozone Rates Strategist and Padhraic Garvey, CFA, Regional Head of Research, Americas

Gilts should find some relief in a boring budget, but risks remain

Gilt markets are always a

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ING Economic and Financial Analysis 5.68K Followers

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